Is Burrillville, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Burrillville has remained a Seller's Market.
Key Takeaway
Burrillville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Burrillville, RI
How much do homes in Burrillville, RI cost?
Median Sold Price
$400,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Burrillville have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Burrillville was $400,000 in May 2024, up 5.3% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $156.5K | $214.5K | +37.1% |
| 2 Bedrooms | $265.5K | $325K | +22.4% |
| 3 Bedrooms | $405K | $417.4K | +3.1% |
| 4 Bedrooms | $400K | $445K | +11.3% |
| 5+ Bedrooms | $410K | $467.5K | +14.0% |
Summary: Burrillville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.1%, 2 bedroom homes increased by 22.4%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 14%.
Median Sold Price Compared To Nearby Cities
| Pascoag | $387.5K | $410K | +5.8% |
| Burrillville | $380K | $400K | +5.3% |
| Harrisville | $405K | $394K | -2.7% |
Housing Supply in Burrillville, RI
How many homes are available in Burrillville, RI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 59 | 43 | -27.1% |
Summary: The Burrillville real estate market had 43 homes for sale in May 2024, a 27.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 15 | 9 | -40.0% |
| 3 Bedrooms | 24 | 23 | -4.2% |
| 4 Bedrooms | 11 | 7 | -36.4% |
| 5+ Bedrooms | 6 | 0 | -100.0% |
Summary: The Burrillville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 40%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes decreased by 36.4%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 14 | -41.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burrillville, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Burrillville in May 2024, down by 41.7% month-over-month. Of the 14 sold homes, 36% were sold under asking, 7% were sold at asking, and 57% were sold over asking.
Days on Market for Burrillville, RI
How long does it take to sell a home in Burrillville, RI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 54 Days | 24 Days | -55.0% |
Summary: Homes in Burrillville had an average of 24 days on market in May 2024, down by 55% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Burrillville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 14 homes were sold in Burrillville; 71% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
